Posted on 04/05/2017 1:19:49 AM PDT by Berlin_Freeper
President Donald Trump has promised sweeping reforms to "horrendous" US banking regulations that were introduced after the financial crisis.
"We're going to do a very major haircut on Dodd-Frank," he said, referring to the Wall Street and consumer protection rules Barack Obama enacted in 2010.
Dodd-Frank aimed to prevent banks taking on too much risk and to separate their investment and commercial arms.
(Excerpt) Read more at bbc.com ...
Dodd-Frank at present is impossible to comply with. So the big banks bribe the regulators while the small guys get killed by the regulators.
As an aside, Frank may have well been the ugliest congressman we’ve ever had :)
Maybe on the inside too.
Bad optics issue.
I’m not a Dodd-Frank fan and know the minimal about it. I do know it effects all aspects of banking, investment, lending.
When the average joe blow sees a $3.00 ATM charge on a $20 withdrawal, they aren’t thinking of opening up banking rules.
Let’s see what happens. This is President Trump’s forte.
Why not a full repeal of Dodd-Frank?
If there's ONE thing President Trump knows and has some serious ideas about fixing, it's banking and all the tributaries surrounding it.
The same idiots that wrote the legislation that got us in all this trouble are the same ones that wrote the legislation getting us out of the problem. Or so they promised it would...
Haircuts?
Bring back usary laws...Let everyone enjoy the new economy.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.